Business, international

Austria: Third best for productivity

Article Abstract:

According to a survey by Austrian consultancy firm Czipin & Proudfoot, Austria is the third best country in the world in terms of productivity, following only the US and Germany. However, the company is concerned by Austrian firms' tendency to be increasingly unambitious to expand their productivity. Firms which in February expected a growth in productivity of 3% only expect a growth of 2.1% in November. The survey blames this "shocking lack of courage" on the management. Within Austrian firms there is low morale, communication problems and too many people who are not properly qualified.

Austria: Pensions to increase

Article Abstract:

The Austrian finance minister, Karl-Heinz Grasser, is to increase state pensions, particularly for those in the lower social strata. Although Grasser gave no details of the planned increase, he claimed that he was able to raise pensions thanks to Austria's unexpected achievement of a zero deficit.

AUSTRIA: INDUSTRIAL PRODUCTION TO INCREASE

Article Abstract:

The Austrian chamber of economics is expecting industrial production to increase by more than 4% in 2000, after a 2.3% growth in 1999. After the number of employees in industry fell by 0.7% to about 450,000 people in 1999, no significant changes in employment are expected for this year.